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China to allow US auditors access to records of Chinese firms

Fri, 24 May 2013 16:37:07 -0400

BEIJING - Chinese regulators Friday announced that they have signed a memorandum of understanding with their US counterparts giving American authorities increased access to documents from Chinese audit firms. The signing of the MOU between China Securities Regulatory Commission (CSRC), the Ministry of Finance (MOF) and the US Public Company Accounting Oversight Board (PCAOB) is a significant ...

China central bank report promises financial sector reforms

Fri, 24 May 2013 16:37:38 -0400

BEIJING - China is planning to steadily push forward market-oriented reform in its interest rates and exchange rates mechanisms this year as part of the financial sector reforms to better serve the real economy, a central bank report said on Friday. The "China Financial Stability Report (2013) released by the People's Bank of China stressed that it would be steadily promoting the interest ...

Royalty Pharma takeover bid fails to find Elan ecceptance

Thu, 23 May 2013 17:52:46 -0400

DUBLIN/ WASHINGTON Ireland-based biotechnology firm Elan Thursday rejected Royalty Pharma's increased $6.4 billion takeover bid, shortly after the U.S. firm cut the acceptance bar for its latest offer to 50 percent plus one share. Royalty raised its hostile cash bid to $12.50 per share on Monday, from $11.25 previously, but made the new offer conditional on Elan shareholders rejecting, at a ...

The House is letting banks write their own laws now

Fri, 24 May 2013 22:10:26 -0400

In May, the House Financial Service Committee passed a bill that would create a loophole to derivative regulation in Dodd-Frank. Chris Hayes talks about the bill with former New York Governor Elliot ...

Pot Dispensary Economy Forced Into Shadows As More Banks Refuse To Do Business

Fri, 24 May 2013 22:00:54 -0400

Despite a near-constant flow of customers at its Huntington Beach storefront, Patient Med Aid struggles with many of the most basic business tasks. It can't accept credit or debit cards for customer transactions. It has to pay vendors in cash. It uses cashier's checks to pay its taxes. The newly opened medical marijuana dispensary, like many clinics in the controversial industry, has ...

N.Y. attorney general targets banks over mortgage payments

Fri, 24 May 2013 21:49:34 -0400

Bank of America, Wells Fargo and other large banks are dragging their feet in processing homeowners' requests for lower monthly payments under the $25 billion national mortgage settlement, said New York Attorney General Eric Schneiderman in a letter obtained Friday by The Washington Post. Earlier this month, Schneiderman threatened to sue Wells Fargo and Bank of America for violating the ...

Auditors to deepen probe into Pamela Wallin’s Senate expenses

Fri, 24 May 2013 21:19:09 -0400

The Senate committee examining Pamela Wallin's travel expenses has asked independent auditors to widen the scope of their review to include another year's worth of the Saskatchewan senator's expense claims.Ms. Wallin is under scrutiny for travel bills that were well above the average claimed by her fellow senators over the past several years. She is one of four members at the ...

Market Snapshot Bears cite performance chasing as stocks rise

Fri, 24 May 2013 21:13:03 -0400

"My experience is when managers are overly focused on performance on a near-term basis, and worried they're missing out, it means they're buying stocks for the wrong reasons," said Brian Belski, chief investment strategist at BMO Capital ...

Heeding the call of finance

Fri, 24 May 2013 21:06:56 -0400

Financial openness will play a far more important role in the country's economic growth and stability in the next decade One of the most contentious issues between China and Western countries, especially the United States, is the opening up of China's financial sector and revaluation of the renminbi. Western countries have urged China to open up its financial sector further, while ...

The Cash Store Financial Services Inc. Files Amended Financial Statements

Fri, 24 May 2013 21:01:50 -0400

May 24, 2013 /CNW/ - The Cash Store Financial Services Inc. ("Cash Store Financial" or the "Company") (TSX: CSF; NYSE: CSFS) today announced that it has filed amended and restated consolidated financial statements and MD&A for the years ...

IIROC Trade Resumption - SLW

Fri, 24 May 2013 21:01:49 -0400

Canada (IIROC) can make a decision to impose a temporary suspension of trading in a security of a publicly listed company, usually in anticipation of a material news announcement by the company. Trading halts are issued based on the principle that all investors should have the same timely access to important company information. IIROC is the national self-regulatory organization which ...

Banks given ultimatum to plug their black holes

Fri, 24 May 2013 21:01:09 -0400

It comes amid mounting frustration among regulators about what is being seen as "foot dragging" by the industry over the issue. Yesterday the beleaguered Co-operative Bank, which remains in talks with its supervisors over its capital position, confirmed plans to cease lending to new business customers as it battles to restore its capital base.Earlier this week Lloyds and Royal Bank of ...

IRS exempt unit faulted for group scrutiny in past

Fri, 24 May 2013 20:53:06 -0400

under scrutiny for targeting conservative groups has been faulted previously by the Treasury Department's inspector general for an array of problems, from delayed processing of files to chronic understaffing to inadequate ...

Top Ten MarketWatch’s top 10 stories May 20-24

Fri, 24 May 2013 20:05:18 -0400

-2.61% shares soared after the company reported financial results that outpaced analyst expectations, but those analysts warned that the "turnaround" tale at the high-tech giant may not have a happy ...

Fitch Affirms Semper Finance 2006-1 2007-1s Notes

Fri, 24 May 2013 19:43:24 -0400

Macao Banks' Rapid China Growth Alters Risk Profiles Macao banks could see their risk profiles weaken as their exposure to China continues to climb.Fitch Ratingsexpects credit growth to accelerate to 30% in 2013 from 26% in 2012, primarily led by China-related trade financing. Generally Chinese exposures are driven by parent referrals and associated risk is adequately mitigated with ...

Indonesias central bank chief urges countrys banks to compete overseas

Fri, 24 May 2013 18:50:31 -0400

Map: Indonesia Indonesia's new central bank governor has urged the country's banks to be ready to compete internationally as authorities seek access to foreign markets.The new governor of Indonesia's central bank, Agus Martowardojo, says Indonesian banks will have tomeet international standards asthey move into other markets inthe region.Mr Martowardojo says also wants to discuss ...

UPDATE 2-Investors boost direct investment in Mexico cut stocks

Fri, 24 May 2013 18:44:13 -0400

Fri May 24, 2013 6:44pm EDT MEXICO CITY May 24 (Reuters) - A healthy boost in foreign direct investment in the first quarter underscored confidence in Latin America's No. 2 economy even as investment flows into the country's stocks and bonds moderated, central bank data showed on Friday. Foreign direct investment reached $4.99 billion in the first quarter after touching negative territory ...

Morningstar.coms 2013 Portfolio Makeover Week

Fri, 24 May 2013 18:36:56 -0400

During Morningstar.com's 2013 Portfolio Makeover Week (May 20-24), our director of personal finance, Christine Benz, helped a diverse set of investors fit the pieces together. She sized up existing holdings and presented a possible new lineup of investments for those in similar situations, while offering ideas on allocation, asset location, and other ...

TD faring better than other Canadian banks in sluggish economy

Fri, 24 May 2013 17:55:03 -0400

ROB Insight is The Globe and Mail's exclusive feature led by a team of award-winning editors and writers who provide you with in-depth analysis on breaking business news and the issues that matter most. With additional commentary and coverage from Thomson-Reuters Breaking Views and The Financial Times, ROB Insight is a one-stop shop for time-pressed and global-minded Canadian business ...

Sprott Resource Lending Corp. Obtains Interim Order for Plan of Arrangement with Sprott Inc.

Fri, 24 May 2013 17:38:25 -0400

May 24, 2013 /CNW/ - Sprott Resource Lending Corp. ("SRLC" or the "Company") announced that it obtained today an interim order (the "Interim Order") of the Ontario Superior Court of Justice (the "Court"). The Interim Order provides for, among other things, the holding of an annual and special meeting (the "Meeting") of the holders of common ...

IIROC Trading Resumption - RBX

Fri, 24 May 2013 17:38:24 -0400

May 24, 2013 /CNW/ - Trading resumes in: Company: ROBEX RESOURCES INC. TSX-Venture Symbol: RBX Resumption: Effective at the open ...

Stocks Pare Losses to End Little Changed

Fri, 24 May 2013 17:27:45 -0400

Stocks pared losses this afternoon to end little changed as overseas volatility and continued worries about fed tightening weighed on the ...

Stocks Lower Fed Overseas Markets Remain in Focus

Fri, 24 May 2013 17:27:44 -0400

wider-than-expected loss and a modest same-store sales decline (down 3.6% domestic) for the first quarter of 2013. The firm is disclosing an online growth rate of 20% but not the size of the business compared to total revenue. Same-store sales were negatively affected due to the impact of weather on Home and Garden, while Apparel continues to be a positive. We note that appliances, where Sears is ...

Fitch Publishes U.S. Banking Quarterly Report

Fri, 24 May 2013 17:27:36 -0400

U.S. prime money market funds (MMFs) increased their exposure to eurozone banks in April. However, even at 15.1%, asset allocations to these institutions remain well below 2011 levels, according to Fitch ...

The List Which banks are lending to small businesses

Fri, 24 May 2013 17:02:16 -0400

The list: Top SBA lenders The Portland arm of the Small Business Administration this week recognized several lenders as part of its Small Business Week celebration. The SBA named Wells Fargo Bank 7a Lender of the Year for Loan Dollar Volume. The bank guaranteed $41 million in loans in fiscal 2012, 19 percent of the 7a loans in the Portland district. Top SBA Lenders >> The 7a program is the ...

IMF chief named key witness in French payoff case

Fri, 24 May 2013 16:44:28 -0400

International Monetary Fund chief Christine Lagarde arrives for a second day of the court hearing at a special court house, in Paris, Friday, May 24, 2013. Lagarde faced questioning at a special Paris court Friday over her role in the 400 million euro ($520 million) pay-off to a controversial businessman when she was France's finance minister. (AP Photo/Thibault ...

IndyCar Banking on Big US Turn

Fri, 24 May 2013 16:38:17 -0400

It was a normal dad day in an otherwise chaotic week for the Indianapolis native. About 7 miles from his house last weekend, Carpenter qualified first for the Indianapolis 500. Sunday at Indianapolis Motor Speedway, he'll try to become the first American driver in seven years to win the race many consider the world's biggest. "It's been a lot of fun being the ...

Banks Violated Mortgage Pact NY AG

Fri, 24 May 2013 16:34:47 -0400

Wells Fargo and other banks violated the terms of a settlement designed to end mortgage servicing abuses. Schneiderman, who has said he plans to sue Bank of America and Wells Fargo for failing to live up to their obligations under the deal, said other states had found similar problems. "Several other states have identified similar recurring deficiencies by the participating servicers," ...

Enforcement Notice - IN THE MATTER OF Alexey Eydelman and Questrade Inc. - Settlement Accepted

Fri, 24 May 2013 16:29:21 -0400

Toronto Stock Exchange that he ought reasonably to have known could reasonably be expected to create an artificial bid price for Quebecor Inc. Class A securities ("QBR.A") contrary to UMIR 2.2 and UMIR Policy 2.2. Questrade Inc. admitted to the following ...

Marret Asset Management Inc. announces average net asset value and status of annual redemption option for Marret High Yield Strategies Fund

Fri, 24 May 2013 16:29:21 -0400

May 24, 2013 /CNW/ - Marret Asset Management Inc. ("Marret") announces that the average net asset value of the units (the "Units") of the Marret High Yield Strategies Fund (MHY.UN) (the "Fund") on the first four valuation dates occurring ...

Bond Report Treasury volatility caps fourth week of losses

Fri, 24 May 2013 16:20:51 -0400

NEW YORK (MarketWatch) -- Treasury prices moved higher Friday as investors bought into the cheapening government debt. But a substantial selloff this week caused by uncertainty over central bank policy sent Treasurys to their fourth consecutive week of ...

John Shinals Tech Investor Can Marissa Mayer leave those crazy kids alone

Fri, 24 May 2013 16:20:39 -0400

How should Yahoo's Marissa Mayer, a CEO in her late thirties, manage a millennial dude like Adam Karp, the idealistic founder of ...

HSBC calls for faster banking reforms in effort to hold investor confidence

Fri, 24 May 2013 15:35:37 -0400

HSBC Chairman Douglas Flint says there is a "once-in-a-generation" opportunity to reform banking; investor confidence could be undermined if changes take too long. (Fred Lum/The Globe and ...

Are Treasury and the Fed at Odds Over Big Banks

Fri, 24 May 2013 15:30:11 -0400

Treasury Secretary Jacob Lew has been cagey about whether he thinks Wall Street's giant banks are getting dangerously large and out-of-control once again, as many experts believe. But at a hearing on Capitol Hill this week, Lew gave the clearest indication yet that he's not especially worried and is going to take the light-fingered approach of his predecessor, Tim Geithner--and that he ...

Fenech’s ‘speculative allegations baseless harm ongoing negotiations’ – Finance Minister

Fri, 24 May 2013 15:29:57 -0400

a press conference given earlier today by the Nationalist MP , during which he asked whether the government had wanted Malta to enter into excessive deficit procedure (EDP) in order not to implement "certain costly electoral promises". "Mr Fenech's statements are worrisome on several counts, not least among them being his suggestion that the Maltese government somehow ...

Vince Cable The traditional high street banks have forgotten how to lend

Fri, 24 May 2013 15:26:07 -0400

When Jonathan Eddy wanted finance for his Basingstoke-based business, one of the traditional high street banks offered him a competitively priced loan - but then threw in fees that made it too expensive for him to proceed. Eddy, managing director of Asset Advantage, has a clear view why. "The traditional high street banks have forgotten how to lend," he ...

Finance body chief urges calm after market drops

Fri, 24 May 2013 15:23:07 -0400

TAIPEI -- Chen Yuh-chang, chairman of the Financial Supervisory Commission (FSC), urged investors Thursday to stay calm after the local market took a dive, sending the index below 8,300 points at the end of the trading ...

Media Advisory Photo Op - RBC celebrates grand opening of the new Albany store

Fri, 24 May 2013 15:17:35 -0400

3 p.m. To mark the occasion, RBC will be making a significant donation in the community, to be revealed at the event. Join us for a barbecue, games and an appearance by RBC ...

IIROC Trading Halt - SZZ.H

Fri, 24 May 2013 15:17:34 -0400

May 24, 2013 /CNW/ - The following issues have been halted by IIROC: Company: Sereno Capital Corp TSX-Venture Symbol: SZZ.H Reason: At the Request of the Company Pending ...

Planemaker Embraer Sees American Closing Out US Regional Jet Cycle

Fri, 24 May 2013 14:25:44 -0400

SAO PAULO -- Embraer SA, the world's third-largest commercial jet maker, expects just one more big regional jet order as a result of its current U.S. sales campaign, Chief Executive Officer Frederico Curado said in an interview, after the Brazilian planemaker clinched three of four major deals since December. "After the American Airlines competition, the game is over for a ...

Saurs banks improve offer to buy business sources

Fri, 24 May 2013 14:20:59 -0400

PARIS | Fri May 24, 2013 2:20pm EDT PARIS (Reuters) - French water and waste treatment company's creditor banks have improved an offer to take over the company, two sources familiar with the matter told Reuters on Friday. Talks to refinance the debt-burdened group could conclude next week, the sources added. "The banks have submitted their improved offer," one of the sources ...

Collins Barrow acts as financial advisor in SCR Mines Technology deal with Alaris Royalty

Fri, 24 May 2013 14:06:00 -0400

May 24, 2013 /CNW/ - Collins Barrow is pleased to announce that Alaris Royalty Corp. ("Alaris" or the "Corporation") (TSX: AD) has entered into a new partnership agreement (the "Partnership Agreement") with SCR Mines Technology Inc. ("SCR") ...

Dont rely much on central banks to revive growth

Fri, 24 May 2013 13:50:54 -0400

MUMBAI: Relying excessively on central banks to bring real growth back is "illusory" as low interest rates would not help overcome the structural imbalances plaguing global economies, Singapore's Deputy Prime Minister and Finance ...

Southeastern Assets Hawkins moves investment money around

Fri, 24 May 2013 13:16:18 -0400

As Memphis-based Southeastern Asset Management Inc. and activist investor Carl Icahn kick off an estimated $7 billion capital campaign to bolster a bid for Dell Inc. (Nasdaq: DELL), Nasdaqs GuruFocus blog has shined a little light on Southeastern chair and CEO Mason Hawkins stock positions through the first quarter. The blog reported Hawkins gained positions in seven stocks, reduced holdings in ...

Bond Report Treasurys move higher as investors buy cheap

Fri, 24 May 2013 13:04:07 -0400

NEW YORK (MarketWatch) -- Investors bought back into Treasurys Friday after a substantial selloff this week, helping the safe-haven debt hold onto gains after a manufacturing report on orders for long-lasting big-ticket items came in better than ...

Al Lewis SEC targets ‘cherry-picking’ daddy

Fri, 24 May 2013 12:43:41 -0400

"They are continuing to service their clients despite the SEC's unfortunate and highly misleading allegations," he wrote in an email. "What the SEC calls ''losses' were not losses at all. Rather, they were short-term price fluctuations that the SEC mischaracterizes as 'losses.' Indeed, CMA's most widely used investment strategy has yielded total ...

Fitch Expects to Rate Odebrecht Offshore Drilling Finance Ltd.s Notes BBB Outlook Stable

Fri, 24 May 2013 12:42:43 -0400

Fitch Releases Special Report on Israels Banks

Fri, 24 May 2013 12:42:39 -0400

Fitch Affirms Wuestenrot Banking Entities at BBB+ Downgrades Viability Ratings

Fri, 24 May 2013 12:42:37 -0400

4 more charged in alleged Benchmark Capital investment fraud

Fri, 24 May 2013 11:57:47 -0400

(WBIR) Four additional people have been charged in connection with an alleged investment fraud scheme that targeted the elderly in Tennessee and North Carolina. According to a press release from the U.S. Attorney's Office, dozens invested more than $42.6 million in fake annuity investments with Benchmark Capital, Inc. Investigators say investors lost a net total of $18 million. Three ...

CANADA STOCKS-TSX dips as Fed stimulus worry offsets rise in banks

Fri, 24 May 2013 11:49:02 -0400

* TSX falls 7.18 points, or 0.06 percent, to 12,650.91 * Seven of 10 main sectors decline * National Bank up 1.4 percent after results * Manitoba Telecom climbs after deal to sell Allstream * Niko jumps 23 percent after discovery off India's coast By John Tilak TORONTO, May 24 (Reuters) - Canada's main stock index fell modestly on Friday as fears that the U.S. Federal Reserve will turn ...

Personal finance expert Suze Orman speaks at UF

Fri, 24 May 2013 11:48:55 -0400

GAINESVILE, Fla. -- Graduates of the University of Florida's College of Veterinary Medicine will receive one final lesson before they get their diplomas.Personal finance guru Suze Orman will give advice on debt and money management during her commencement speech on Saturday.Orman, who lives in Boca Raton, also has a personal reason for speaking: Her niece is one of the 87 students ...

Russia to finance construction of hospitalsschools in Dniester Reg

Fri, 24 May 2013 11:46:51 -0400

In the plans is the construction of new buildings of the republic's maternity centre, the central clinic, the tuberculosis treatment clinic in Bendery and a new tuberculosis treatment centre in Rybnita. Agreements were also signed to build schools in Tiraspol. Bendery, Rybnita and the village of Tashlyk and new kindergartens in Rybnita and ...

Marsh to Acquire Peru Insurance Advisor Rehder y Asociados

Fri, 24 May 2013 11:45:50 -0400

Global broker Marsh Inc. announced that it has reached a definitive agreement to acquire the Rehder y Asociados Group, an insurance advisor in Peru. Marsh said the "business includes the insurance broker Rehder y Asociados and employee health and benefits specialist Humanasalud." Terms of the transaction were not disclosed. Marsh said the acquisition, which is anticipated to close in ...

EU Lawmakers Back French Demands to Limit U.S. Trade Talks

Fri, 24 May 2013 11:45:50 -0400

European Union lawmakers voted on Thursday to limit the scope of a proposed free-trade deal between Europe and the United States, backing French demands to leave out culture and potentially irritating Washington. The European Parliament, which can veto EU trade accords, voted 460 in favor and 105 against with 28 abstentions to limit Brussels’ room for maneuver in talks on a deal that would ...

SP Applies Revised Insurance Criteria to 22 Reinsurers and Subs

Fri, 24 May 2013 11:45:49 -0400

Standard & Poor’s Ratings Services announced that it has reviewed its ratings on 22 large global reinsurance groups by applying its new ratings criteria for insurers, which were published on May 7, 2013. (See the Ratings List for the ratings on these reinsurers, their core and highly strategic subsidiaries, and other subsidiaries that we took rating actions on as a result of applying ...

ABI Approves UK Government Plan to Highlight Insurers’ Global Role

Fri, 24 May 2013 11:45:49 -0400

A bulletin from the Association of British Insurers (ABI) notes that the UK's Financial Secretary to the Treasury Greg Clark announced on Tuesday May, 21 that the Government has outlined a "strategy for the insurance sector to enhance its position as a leader in global business." Launching the strategy at an insurance industry conference, "Clark highlighted the insurance ...

Exxon InterOil discussing Papua New Guinea investment

Fri, 24 May 2013 11:39:16 -0400

Exxon and InterOil are talking about a deal on InterOil's assets in Papua New Guinea. Exxon Mobil Corp. and InterOil Corp. are in exclusive talks on a possible investment by an Exxon subsidiary in InterOil's gas assets in Papua New Guinea. InterOil has its U.S. corporate office in the Woodlands, though its business is primarily focused in Papua New Guinea and the surrounding region. The ...

RBC Introduces Supplier Code of Conduct

Fri, 24 May 2013 11:36:33 -0400

This principles-based Code sets out RBC's expectations of suppliers to ensure their behaviour aligns with RBC standards. It formalizes and standardizes RBC's approach to responsible procurement. As part of the Code, suppliers must, among other ...

LONDON MARKETS U.K. Stocks Slides As Miners Banks Decline

Fri, 24 May 2013 11:26:54 -0400

LONDON – U.K.'s FTSE 100 index dropped on Friday, with mining firms adding pressure as metals prices turned south and with banks extending the prior day's losses.The FTSE 100 index lost 0.8% to 6,645.67, on track for a 1.2% weekly loss.BT Group PLC dropped 1.9%, after J.P. Morgan Cazenove cut the telecoms firm to neutral from overweight, citing regulation, pension and BT Sport as ...

UPDATE 1-Vestas says fraud squad investigating ex-finance chief

Fri, 24 May 2013 10:48:37 -0400

Fri May 24, 2013 10:48am EDT (Adds details, comment, background) COPENHAGEN May 24 (Reuters) - The former chief financial officer of Danish wind turbine maker Vestas Wind Systems A/S is being investigated by the country's fraud squad over two agreements he made with an Indian firm, Vestas said. Vestas said it had contacted Denmark's State Prosecutor for Serious Economic and International ...

Marret Resource Corp. announces appointments to the Board and certain amendments to its corporate governance policies

Fri, 24 May 2013 10:43:20 -0400

February 2013 and prior to that was counsel for, and previously a partner of, the law firm Fraser Milner Casgrain LLP, practicing principally in the areas of securities and capital markets, corporate finance, mergers and acquisitions and ...

Bank of Canada Interest Rate Announcement

Fri, 24 May 2013 10:43:19 -0400

Canada will announce its decision on the target for the overnight rate. A press release will provide a brief explanation of the ...

News Corp approves split sets share distribution

Fri, 24 May 2013 10:34:11 -0400

News Corp.'s (NWS, NWSA, NWS.AU) board approved the company's separation into two publicly traded entities, moving another step closer to splitting its entertainment businesses from the publishing ...

INVESTMENT FOCUS-Dollar builds steam unnerves emerging markets

Fri, 24 May 2013 10:07:23 -0400

By Mike Dolan LONDON | Fri May 24, 2013 10:07am EDT LONDON May 24 (Reuters) - As the dust settles on a volatile week, many strategists now sense a green light for a long-brewing multi-year rise of the U.S. dollar - with unnerving portents for emerging markets. The U.S. Federal Reserve's now open debate about the beginning of the end of its massive money-printing programmes caused ...

National Bank of Canada announces a normal course issuer bid for up to 2 of its common shares

Fri, 24 May 2013 09:48:35 -0400

Canada (the "Bank") (NA) today announced that its Board has authorized a normal course issuer bid to purchase for cancellation up to 2% of its issued and outstanding common shares, representing approximately 3,246,676 common shares. This normal course issuer bid is subject to the approval of the Office of the Superintendent of Financial ...

Bond Report Treasurys hold gains after durable goods

Fri, 24 May 2013 09:38:55 -0400

NEW YORK (MarketWatch) -- Treasurys held onto price gains Friday after a report on orders for long-lasting big-ticket items came in better than ...

Market Snapshot U.S. stocks dip at open despite durable goods beat

Fri, 24 May 2013 09:38:50 -0400

NEW YORK (MarketWatch) -- U.S. stocks opened lower Friday after another volatile session for Asian markets, with upbeat durable-goods data failing to overcome negative ...

Net NPA rises 51 for 39 listed banks in FY 2012-13 over previous year

Fri, 24 May 2013 09:33:03 -0400

MUMBAI: Slowdown in the economy and higher cost of funds has resulted in listed commercial banks showing a 51% rise in bad loans in the fiscal year 2012-13 over the previous year. A study by npasources.com shows that bad loans after making provisions ...

Finance News Macroeconomic News

Fri, 24 May 2013 09:27:26 -0400

May 24 (Reuters) - (The following statement was released by the rating agency)Fitch Ratings has affirmed Semper Finance 2006-1 Ltd.'s senior swap and class A to E ...

Accelero Capital to acquire Allstream

Fri, 24 May 2013 08:53:50 -0400

May 24, 2013 /CNW/ - Accelero Capital Holdings S.? r.l. Group ("Accelero") today announced it has signed a binding agreement with Manitoba Telecom Services Inc. (TSX: MBT) to acquire the Allstream business ("Allstream" or the "Company") in a transaction that values Allstream ...

UTA Hires Top Investment Banker to Explore Finance Options

Fri, 24 May 2013 08:43:58 -0400

United Talent Agency has engaged a top Wall Street banker to help evaluate investment offers in the wake of the sale of minority interests in its two larger ...

Bad loan writedowns at Italy banks seen at 19 bln euros in 2013-think tank

Fri, 24 May 2013 08:08:22 -0400

MILAN | Fri May 24, 2013 8:08am EDT MILAN May 24 (Reuters) - Writedowns on bad loans held by Italian banks will total 19 billion euros ($24.51 billion) this year and 48 billion euros in the three years to 2015, according to a report by think tank Prometeia released on Friday. Despite the hefty loan losses, the Italian banking industry is expected to return to profit this year after ...

RPT-Fitch updates global structured finance rating criteria no rating impact

Fri, 24 May 2013 08:05:38 -0400

Fri May 24, 2013 8:05am EDT (Repeat for Additional Subscribers) May 24 (Reuters) - (The following statement was released by the rating agency) Fitch Ratings has updated its global criteria for rating structured finance (SF) transactions. The changes to the report will not have any impact on existing SF transactions. The criteria describe Fitch's approach to analysing SF transactions and ...

National Bank posts record results for the Second Quarter of 2013 and raises its quarterly dividend by 5 to 87 cents per share

Fri, 24 May 2013 07:58:43 -0400

The financial information in this press release is based on the unaudited interim consolidated financial statements for the second quarter ...

Chuck Jaffe Bernanke dares you to buy stocks

Fri, 24 May 2013 07:49:51 -0400

Federal Reserve Chairman Ben Bernanke reiterated this week the message he has been sending for months about interest rates, the economy and the stock ...

Weekend Investor 3 money moves to beat back higher taxes

Fri, 24 May 2013 07:49:51 -0400

Some of the tax hikes rolled out this year, such as the expiration of the payroll tax cut, caused an immediate blow to wallets and could not be avoided. But taxpayers can make moves now to minimize the impact of some of the other tax changes, including a new top tax bracket and higher taxes on investment ...

Rex Nutting Bernanke hasn’t thrown grandma under the bus

Fri, 24 May 2013 07:49:48 -0400

WASHINGTON (MarketWatch) -- Have Ben Bernanke and the Federal Reserve thrown grandma under the bus by keeping interest rates so low, as a U.S. senator recently charged? Is the Fed sticking it to the little guy by "punishing people who've done the right ...

Has Exelons Rally Run Its Course

Fri, 24 May 2013 07:47:55 -0400

Exelon has been on a tear, up 21% since hitting a nine-year low in November amid concerns about a dividend cut and credit risk and up 16% year to date, handily beating the S&P 500 and the Morningstar Utilities Index. But Exelon's fundamental earnings power has not changed, and we're concerned that this has been a ghost rally built on yield-seeking multiple expansion and spot power ...

Seasoned Professional Seeks Guidance on Pre-Retirement Portfolio

Fri, 24 May 2013 07:47:54 -0400

I tried to address a few key issues with the portfolio makeover. First, I aimed to arrive at an asset allocation that makes sense given her time horizon, providing for short-term income needs for her early-retirement years as well as growth potential to accommodate a long and active retirement. Second, I wanted to dramatically reduce her number of holdings to simplify the task of overseeing her ...

Our Pick for Emerging-Markets Small-Cap Exposure

Fri, 24 May 2013 07:47:52 -0400

WisdomTree Emerging Markets Small Cap Dividend has a number of positive attributes. Its small-cap focus provides better diversification benefits relative to large caps, as small companies tend to have more exposure to local economies and customers. Long-term investors may also benefit from the small-cap premium, which has also been observed in emerging markets. This fund employs a dividend-based ...

Top investment ideas from experts for volatile mkts

Fri, 24 May 2013 07:43:38 -0400

US Federal Reserve on quantitative easing (QE) and muted manufacturing PMI data from China. According to analysts, markets are likely to remain volatile on account of global macro concerns and it is best to focus on high quality business ideas. "On the corporate front, things are not looking any better in this quarter versus earlier quarter, but you have to look at commodity prices which are ...

HSBC urges acceleration of banking reform

Fri, 24 May 2013 06:59:25 -0400

HSBA.L ) Chairman Douglas Flint said on Friday the pace of reform in the banking industry must be accelerated to avoid investor confidence in the sector being ...

India names Goldman to manage ETF of state firms

Fri, 24 May 2013 06:56:52 -0400

NEW DELHI--India has appointed Goldman Sachs Asset Management (India) Pvt. Ltd. to create and launch an exchange-traded fund that will raise money from investors and invest in state-run companies, a senior finance ministry official said ...

Fitch Macao Banks Rapid China Growth Alters Risk Profiles

Fri, 24 May 2013 06:55:14 -0400

Lack of Stringent U.S. CMBS Underwriting Could Affect REITs Changes in the availability, pricing, and underwriting stringency of U.S. CMBS financing could affect REITs directly and indirectly, according to Fitch Ratings. In addition, a boom-or-bust cycle for CMBS loan performance would negatively affect REITs that regularly access the CMBS ...

Asia Ends Choppy Session Mostly Higher

Fri, 24 May 2013 06:55:13 -0400

Asian stock indices swung between gains and losses Friday, but finished mostly higher as investors regained some confidence a day after weak Chinese factory data and U.S. stimulus worries sparked a sharp ...

Liberia The Aftermath - Buchanan Without BRE - Residents Moving On After Investment Snafu

Fri, 24 May 2013 06:49:36 -0400

It's less than a year since the famous energy renewable company, Buchanan Renewable Energy (BRE) shut down its operations in the country and many of its former workers are now expressing their frustration over the company's closure. Based in Buchanan city with most of its operations in Grand Bassa and Margibi Counties; BRE was credited for providing jobs for over 2,000 people before it ...

Banks to repay 8.1 bln euros of ECB crisis loans

Fri, 24 May 2013 06:19:20 -0400

FRANKFURT | Fri May 24, 2013 6:19am EDT FRANKFURT May 24 (Reuters) - Banks will return early 8.123 billion euros ($10.48 billion) of crisis loans to the European Central Bank next week after the ECB cut its main interest rate to a fresh record low of 0.5 percent earlier this month. ECB President Mario Draghi said after the May policy meeting that the ECB is ready to cut borrowing costs ...

Commodities Corner What gold silver mining investors should do next

Fri, 24 May 2013 06:14:08 -0400

SAN FRANCISCO (MarketWatch) -- A 40% year-to-date drop in benchmark indexes for gold and silver mining shares isn't a good reason to hate ...

Banks in the spotlight in debate over UK listing rules

Fri, 24 May 2013 06:07:03 -0400

By Clara Ferreira-Marques and Kylie MacLellan LONDON (Reuters) - As Britain's stock market watchdog pores over the implications of scandals at mining companies ENRC and Bumi, the role of sponsor banks who helped lead their listings is coming ...

European Markets Slightly Higher

Fri, 24 May 2013 06:02:58 -0400

European markets traded slightly higher Friday as they recovered some of the previous session's losses and after upbeat economic data out of the region also lifted ...

Asian Markets Mixed Nikkei Bounces Back

Fri, 24 May 2013 06:02:58 -0400

Meanwhile, concerns about theU.S. Federal Reserverolling back stimulus measures over the short-term furtherundermined sentiment. These worries prompted investors to pull money out ofequity markets, erasing billions of value from global stock markets yesterday, with Japanese bourses recording their biggest single-day drop since ...

Liberia Govt Lacks Fiscal Discipline - Finance Minister

Fri, 24 May 2013 05:56:39 -0400

Finance Minister Amara Konneh, has conceded that many officials of government are fiscally indiscipline. Minister Konneh said public officials, especially authorities at the Ministry of Health and Social Welfare love receiving funds from government, friendly nations and organizations, but always slow in terms of submitting performance report on money received as a result, it becomes difficult ...

European shares edge lower led by banks autos

Fri, 24 May 2013 05:44:44 -0400

LONDON | Fri May 24, 2013 5:44am EDT LONDON May 24 (Reuters) - European shares edged lower on Friday, led by auto and banking shares as investor sentiment remained shaky on concerns about a possible rolling back of U.S. monetary stimulus. The pan-European FTSEurofirst 300 index was down 0.4 percent at 1,225.26 points at 0941 GMT, with selling momentum accelerating as the index ...

RPT-Fitch Publishes Russian Banks 4M13 Datawatch

Fri, 24 May 2013 05:44:10 -0400

Fri May 24, 2013 5:44am EDT (Repeat for additional subscribers) May 24 (Reuters) - (The following statement was released by the rating agency) Fitch Ratings has published the latest edition of its 'Russian Banks Monthly Datawatch', a monthly publication of spreadsheets with key data from Russian banks' statutory accounts. The new issue includes numbers as of 1 May 2013, as well as ...

Shares of TransAsia Airways jump on strategic investment hopes

Fri, 24 May 2013 05:16:39 -0400

Taipei, May 24 (CNA) Shares of TransAsia Airways, a mid-sized international carrier in Taiwan, rose sharply Friday morning on hopes that the airline will introduce a strategic investor through a stake disposal by one of its major shareholders, dealers said. In addition, with international crude oil prices on the decline, many investors expect lower operating costs in the air travel sector and an ...

Fed sees fierce competition among banks

Fri, 24 May 2013 05:15:22 -0400

Minnesota's community bankers are reporting "exceptionally fierce" competition for commercial loans, according to the local branch of the Federal ...

Azerbaijans transport sector not facing problems with investment support

Fri, 24 May 2013 05:11:33 -0400

The high credit rating allows international investors to trust Azerbaijan, easily issuing loans for the development of different major projects, including in transport. The statement came from head of the transport ministry's board of Azerbaijan Javid Najafov as part of the International Transport Forum in ...

London Markets U.K. stocks wobble as miners banks decline

Fri, 24 May 2013 04:49:59 -0400

LONDON (MarketWatch) -- U.K.'s FTSE 100 index slipped on Friday, with mining firms adding pressure as metals prices turned south and with banks building to the prior day's ...

JGBs react favorably to Bank of Japan purchases

Fri, 24 May 2013 04:49:58 -0400

TOKYO (MarketWatch) -- Japanese government bond yields came off early highs to end little changed Friday as two bond-buying operations by the Bank of Japan helped to calm the ...

China strengthens river banks to preserve Mogao Grottoes

Fri, 24 May 2013 04:12:31 -0400

China is investing millions of dollars in a flood control project to prevent Mogao Grottoes, a UNESCO World Heritage Site in northwest China's Gansu Province, from seasonal flooding, the caves' administration said on ...

Asia Markets Japan stocks end up after roller-coaster ride

Fri, 24 May 2013 03:58:37 -0400

HONG KONG (MarketWatch) -- Japanese shares ended modestly higher Friday after a roller-coaster ride that subjected the Nikkei Stock Average to a swing of more than 3% on both sides of the previous day's ...

3i makes offer to buy Barclays BIFM

Fri, 24 May 2013 03:58:35 -0400

LONDON--International investor company 3i Group PLC , said Friday that it has made an irrevocable offer to Barclays Bank PLC , to acquire Barclays Infrastructure Funds Management Ltd or BIFM, its European infrastructure fund management ...

Untapped markets are the key to unlocking social enterprise investment

Fri, 24 May 2013 03:23:52 -0400

Salisbury Plain, one of the MoD's training areas, is managed by the company Landmarc which is looking to 'buy social and local'. Photograph: Leon Neal/AFP/Getty ...

Finance Minister to launch consumer information campaign

Fri, 24 May 2013 03:02:52 -0400

The Minister for Finance Michael Noonan, along with the EU Commissioner for Consumer Policy, Tonio Borg, will launch an EU information campaign targeted at consumers today.The aim of the European Consumer Credit Campaign is to make people more aware of their right when they take out credit.It is hoped that by giving people more information in relation to credit that they can make a more informed ...

British police knew about London hacking death suspects

Fri, 24 May 2013 02:55:54 -0400

British law enforcement was under fire Friday after conceding it knew for almost a decade about the two men who allegedly butchered a British soldier. Prime ...

Seoul shares edge up 0.2 pct helped by banks insurers

Fri, 24 May 2013 02:11:28 -0400

SEOUL | Fri May 24, 2013 2:11am EDT SEOUL May 24 (Reuters) - Seoul shares rose 0.2 percent on Friday, after moving in and out of the positive territory, helped by firm gains in insurers and banks. But rises were capped amid concerns about reduced monetary stimulus in the United States and a slowdown in the Chinese economy. The Korea Composite Stock Price Index finished up 0.22 percent at ...

Houston-Area ‘Pastor’ Charged in Real Estate Investment Scheme www.privateofficr.com

Fri, 24 May 2013 00:38:19 -0400

--Samuel Ray Palasota, 52, of Houston, has surrendered to federal authorities following the return of a 24-count indictment alleging he operated a fraudulent real estate investment scheme and defrauded a woman of $650,000, United States Attorney Kenneth Magidson announced today. The sealed indictment, returned May 8, 2013, and unsealed today, charges Palasota with 21 counts of mail fraud and ...

DealBook Banks’ Lobbyists Help in Drafting Financial Bills

Fri, 24 May 2013 00:32:39 -0400

financial regulations . Instead, the lobbyists are helping to write it themselves. One bill that sailed through the House Financial Services Committee this month -- over the objections of ...

Japan bonds stability ‘extremely desirable’Kuroda

Fri, 24 May 2013 00:31:04 -0400

TOKYO (MarketWatch) -- Bank of Japan Gov. Haruhiko Kuroda said Friday it is "extremely desirable" for the nation's debt market to be stable, adding that the central bank will run market operations flexibly and strengthen communication with the market to head off volatility in bond ...

ACE Receives Regulatory Approval for Myanmar Representative Office

Thu, 23 May 2013 23:42:18 -0400

The ACE Group announced today that it has received provisional approval from Myanmar's Directorate of Investment and Company Administration to establish a representative office in Myanmar. The company is now completing the registration process with the relevant Myanmar authorities with the intention of opening the office in the city of Yangon later this year. As well as acting as ...

Japan’s Abe reiterates commitment to reforms

Thu, 23 May 2013 23:36:33 -0400

TOKYO (MarketWatch) -- Responding to the recent sharp increases in long-term interest rates, Japanese Prime Minister Shinzo Abe reiterated his commitment to fiscal consolidation, as he tried to put aside any doubts about his resolve to undertake painful ...

Seoul shares steady on banks autos but gains seen capped

Thu, 23 May 2013 22:29:15 -0400

Thu May 23, 2013 10:29pm EDT * KOSPI edges up, but rises limited amid foreign selling * Banks, autos fuel upside momentum * Oil price fall hurts refiners, chemical companies SEOUL, May 24 - Seoul shares edged up on Friday helped by auto and banking stocks, regaining some of the ground lost a day earlier on weak Chinese manufacturing data and concerns about less monetary stimulus in the United ...

Gold An investment right for the wrong reasons

Thu, 23 May 2013 21:54:53 -0400

Gold coins first minted around 700 B.C. Barbecue season begins this weekend, and, as all right-thinking people know, North Carolina barbecue is the best on the planet. Which brings us to gold. North Carolina barbecue and gold are examples of happy outcomes based on faulty assumptions. Carolina barbecue is pure vinegar and pepper goodness. It has no tomato because early settlers thought that ...

Swiss Banking Secrecy Under Pressure From Europe

Thu, 23 May 2013 21:52:11 -0400

GENEVA ...

ASIA MARKETS Japan Stocks Recover Modestly After Steep Sell-off

Thu, 23 May 2013 21:42:53 -0400

HONG KONG – Japanese stocks jumped Friday to stage a modest recovery, with relief buying emerging after the extreme losses they suffered the previous day, amid expectations that the rally that began late last year may have further to go.The Nikkei Stock Average climbed 3% after diving 7.3% in the previous session, while the broader Topix advanced 2.6% after Thursday's 6.9% ...

Mutual Funds Weekly Hard truth about your relationship with funds

Thu, 23 May 2013 20:47:01 -0400

It can't be said enough: A stock, mutual fund or exchange-traded fund doesn't know you own it and doesn't care about your work, family, goals or ...

REFILE-S.Korea BOK Kim warns of risks from global cen banks unwinding policy

Thu, 23 May 2013 20:02:47 -0400

Fri May 24, 2013 12:39am EDT (Drops word "monthly" in 3rd paragraph) SEOUL May 24 (Reuters) - South Korea's central bank chief warned on Friday that financial markets could suffer from turmoil when the world's major central banks wind down their unconventional monetary stimulus. "(Markets) could experience turmoil not just once but several times through such a process of (the ...

ABB aims to maintain $120m annual investment in China

Thu, 23 May 2013 19:51:22 -0400

/enpproperty--> Swiss-Swedish engineering group ABB will maintain its annual investment scale of $120 million in China as it sees huge potential from the nation's strong demand for industry upgrades. "As a global leader in automation and power, ABB has a strong commitment to China. Our innovative technologies can help industrial customers improve productivity and reduce costs, in ...

Horizons announces May 2013 distributions for its Covered Call ETFs

Thu, 23 May 2013 19:45:11 -0400

) Inc. and its affiliate AlphaPro Management Inc. (collectively "Horizons ETFs") are pleased to announce the distribution amounts per unit (the "Distributions") for certain of the Horizons ETFs family of exchange traded funds (the "ETFs"), for the period ...

Dish adds Scotiabank to finance Sprint deal -sources

Thu, 23 May 2013 18:57:14 -0400

By Nicola Leske Thu May 23, 2013 6:57pm EDT May 23 (Reuters) - Dish Network Corp has added Canada's Scotiabank to the four banks it had already lined up to finance its $25.5 billion bid for Sprint Nextel Corp, according to two people familiar with the matter. Reuters reported on May 15 that Dish was working with Barclays Plc, Macquarie Group, Jefferies and the Royal Bank of Canada to help ...

Former Lake County Man Sentenced to More Than Six Years in Prison for Role in $1.6 Million Investment Fraud Scheme

Thu, 23 May 2013 18:40:53 -0400

CHICAGO-A former Lake County man was sentenced today to more than six years in federal prison for cheating at least 20 victims of approximately $1.6 million in an investment fraud scheme. The defendant, William Block, promised investors substantial profits, in some cases up to 300 percent returns over just six months, but instead used the money to finance a lavish lifestyle. Block, 54, formerly ...

Owner of Investment Company Pleads Guilty to Engaging in Fraudulent Investment Scheme

Thu, 23 May 2013 18:40:53 -0400

WASHINGTON-The owner of an investment company pleaded guilty today for his role in an investment scheme involving false promises, announced Acting Assistant Attorney General Mythili Raman of the Justice Department’s Criminal Division, U.S. Attorney for the Eastern District of Virginia Neil H. MacBride, and Assistant Director in Charge Valerie Parlave of the FBI’s Washington Field ...

BTB announces the sale of one of its commercial properties

Thu, 23 May 2013 18:32:57 -0400

May 23, 2013 /CNW Telbec/ - BTB Real Estate Investment Trust (TSX:BTB.UN) ("BTB" or the "Trust") announces the sale, by one of its subsidiaries, of one of its properties bearing civic address 2220 Lapinire, in the City of Longueuil (borough of Brossard), province of Qubec. This property of approximately 16,867 square feet was acquired ...

BSP adopts rules compliance rating system for PH banks

Thu, 23 May 2013 18:15:54 -0400

MANILA, Philippines--The Bangko Sentral ng Pilipinas (BSP) has established a rating system that will evaluate banks' compliance with various regulations that were designed to ensure the sustainability of their favorable financial standing. The BSP said the "Compliance Rating System," embodied in Circular 747, would be implemented starting September this year. Banks will be rated ...

Minnesota banks still face challenges Fed says

Thu, 23 May 2013 18:15:08 -0400

Minnesota banks' first-quarter performance was a mixed bag, with a drop in problem loans on the plus side, but balanced against continued difficulty returning to pre-recession levels of profitability. In the Federal Reserve Bank of Minneapolis' first-quarter report on the state's banks, signs of progress were tempered by signs the economy that isn't ramping up quickly. ...

BUYOUTS-NYC investment officers new job raises eyebrows

Thu, 23 May 2013 18:07:02 -0400

Thu May 23, 2013 6:07pm EDT * Lands at secondary buyer Landmark Partners * Follows NYC committing $400 mln to same firm * Should pension rules be tightened? By Gregory Roth NEW YORK, May 23 (Reuters-BUYOUTS) - Barry Miller, who has been head of private equity for the New York City Pension Systems, has landed a job at Landmark Partners, a secondary firm to which the pensions recently made a ...

Group set for $10bn direct investment in Nigeria

Thu, 23 May 2013 17:34:15 -0400

The drive of Federal Government for Foreign Direct Investment into the Nigerian economy has yielded fruit as a multinational group of high net-worth private investors with base in Europe and Singapore has concluded plans to make major investments in the oil and gas sector, real estate, agriculture, university education and power generation in the ...

Clear plan urged for banks bailed out by UK

Thu, 23 May 2013 17:31:01 -0400

(MENAFN - Arab News)The International Monetary Fund has urged Britain's government to adopt a "clear" plan to sell its stakes in state-rescued lenders Royal Bank of Scotland and Lloyds Banking Group, but warned it may first need to inject more capital."A clear strategy is needed for the two government-intervened banks, with a view to returning them to private ownership," ...

China to step up investment in Pakistan

Thu, 23 May 2013 17:24:54 -0400

China pledged on Thursday to increase investment in Pakistan in return for a tariff reduction the two governments have agreed on. "The two sides must strengthen strategic cooperation in response to a fast-changing global and regional climate," visiting ...

Macrocyclics to Collaborate with Roche on Molecular Innovation for Nuclear Medicine

Thu, 23 May 2013 17:19:07 -0400

May 23, 2013 /CNW/ - After the successful completion of their first 2012 collaboration, Macrocyclics (an AREVA Med company) announced today a new collaborative research agreement with Roche for the continued development of novel chelating agents designed specifically by Macrocyclics for Roche's applications. ...

SP Dow Jones Indices Announces Changes to the SPTSX Canadian Indices

Thu, 23 May 2013 17:19:07 -0400

Thursday, May 30, 2013 the spun-out shares of DREAM Unlimited will be added to all the same indices where Dundee Corporation is a constituent. The close price of Dundee Corporation will be reduced by the close price (when-issued market) of DREAM Unlimited and no new divisors will be calculated for any ...

JDRF Kicks Off Annual JDRF Ride for Diabetes Research Campaign for 2013

Thu, 23 May 2013 17:19:06 -0400

May 24, 2013 to help accelerate the pace of research to cure, better treat, and prevent type 1 diabetes (T1D). The JDRF Ride Kick Off event ...

Fiera Capital Corporation announces the election of directors

Thu, 23 May 2013 17:19:06 -0400

May 23, 2013 /CNW Telbec/ - FIERA CAPITAL CORPORATION (TSX: FSZ) (the "Corporation") announces that all nominees listed in the management information circular dated April17, 2013 have been elected as directors of the Corporation. Each of the four (4)ClassA directors proposed for election at the annual meeting of the shareholders was elected on a vote by show of hands. Each of ...

Financial help for people with disabilities

Thu, 23 May 2013 17:18:02 -0400

Olsen, paralyzed from the chest down by a drunk driver in 1999, has spent 10 years in D.C. working in the federal government on employment policy. Critical of the government's own treatment of workers with disabilities -- it has passed over him and others for advancement, he says -- the Labor Department staffer launched Federal Employees With Disabilities in 2012. The 250-person advocacy ...

Beware of shadow banks - opinion

Thu, 23 May 2013 17:17:59 -0400

The Shadow, the hero of a 1930s radio show, could see the evil lurking in the hearts of men. Unfortunately, consumers can't always see the trouble lurking in another kind of shadow -- the shadow bank -- until it's too ...

U.S. chemical investment breakdown proves Gulf Coast is still king

Thu, 23 May 2013 17:09:59 -0400

About half of the $71.7 billion in new U.S. chemical investments are from foreign companies. Theres no question that the chemical industry is booming here in Houston. However, some may still be wondering to what exact degree new chemical investment will affect the areas jobs, tax collection and construction in the short and long term. The American Chemistry Council has answered that question with ...

Successful conclusion of Abu Dhabi Investment Forum in Paris

Thu, 23 May 2013 16:54:28 -0400

WAM PARIS, May 23rd, 2013 (WAM)-- The Abu Dhabi Investment Forum in Paris, organized by Abu Dhabi Department of Economic Development with the participation of over 200 businessmen and investors, successfully concluded yesterday in the French capital. The six-panel discussion forum enabled senior officials from a number of government departments, institutions and authorities in Abu Dhabi to ...

Fitch U.S. Regional Banks to Build CLO Positions Further

Thu, 23 May 2013 16:36:33 -0400

Thu May 23, 2013 4:36pm EDT (The following statement was released by the rating agency) CHICAGO, May 23 (Fitch) A number of U.S. banks again boosted holdings of collateralized loan obligations (CLOs) in the first quarter, and Fitch expects the trend to continue as banks and other CLO investors look for alternatives to low-yielding Treasurys and MBS. Stronger leveraged loan and CLO issuance ...

Foreign central banks U.S. debt holdings fall - Fed

Thu, 23 May 2013 16:29:58 -0400

NEW YORK | Thu May 23, 2013 4:29pm EDT NEW YORK May 23 (Reuters) - Foreign central banks' overall holdings of U.S. marketable securities at the Federal Reserve fell in the latest week, data from the U.S. central bank showed on Thursday. The Fed said its holdings of U.S. securities kept for overseas central banks fell $670 million in the week ended May 22, to stand at $3.3 ...